StockCharts Messages – 12/14/12

  • These messages are never edited from the original post.  Warts and all are in plain view.

MARKET MESSAGES

12/14/12 – THU

Since the low on 11/16/12, it looks like a 3 step count is complete on the upside.  There is always a possibility that we could have a 5 count to the upside.

Best case corrective scenario: If a significant reversal took place on 11/16/12, we should have a normal correction, which would retrace about 50% of the advance.  The advance would resume after the correction.

Best/Worst case corrective scenario: If the bottom on 11/16/12 was only step 4 down, we should have another step down (step 5) ending below the 11/16/12 low.

Worst case corrective scenario: The peak in September could be a completed 3 count in a larger 3 count dating from the March 2009 low.  There is always the prospect that we have only completed step 1 down on 11/16/12.  This would be part of a major downtrend that began in September.

I am loathe to embrace the bear market scenario at this time because the consequences are too grave for my tiny mind to comprehend.  I thought 2008 was unbelievably bad and I believe the next bear market will be even worst as it will be the 3rd and last step down since the 2000 peak.

12-14-12 SP FUTURES 140 MIN BARS

12-14-12 SP FUTURES 140 MIN BARS

These following uptrend lines should be penetrated if step 3 up is complete.

12-14-12 SP FUTURES 45 MIN BARS

12-14-12 SP FUTURES 45 MIN BARS

The following is the 5 day EMA buy/sell system as can be seen in chart #30.4.  The chart in 30.4 is the SPX while the chart below portrays the SP futures.

12-14-12 SP FUTURES 15 MIN BARS - 5 DAY EMA BUY:SELL SYSTEM

12-14-12 SP FUTURES 15 MIN BARS – 5 DAY EMA BUY/SELL SYSTEM

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13 Comments on “StockCharts Messages – 12/14/12”

  1. focus12345 Says:

    Thanks Bob lets see how it goes!

    Like

  2. Bob Says:

    Hi Michael,

    Check out the gold charts #20.6 and 20.7. I added Keltner bands to the daily and 60 minute charts. I hope this helps.

    Bob

    Like

  3. Bob Says:

    Hi Michael,

    Good idea, let me check that out. I’ll post a comment here if I make a change to my gold charts.

    Bob

    Like

  4. focus12345 Says:

    Ok Bob Thanks.

    One other thing that I have been meaning to ask. I have tried trading Gold and Silver following a number a people. I have not made a dime yet. Since we are in a bull market in Gold and Terry thought it would last until 2020 is there any way to make charts like your charts 40.1,40.2,40.3 for Gold/Silver-would it work? I would think that if it could be done that trading on the up -side , also when this Bull ends to the downside, would be very lucrative. I just hate blindly following others it just does not seem to work for me.

    Michael

    PS if you need a contribution towards your membership(upgrade or not) let me know.

    Like

  5. Bob Says:

    Hi Michael,

    Don’t fix it if it ain’t broken. In other words forget about the 15 minute chart if you’ve been successful using the daily and 60 minute charts.

    The 15 minute chart is just a closer look at the same thing (5 day EMA system). I find the bands on the SP futures is more accurate and useful. This is because it includes overnight trading in the futures avoiding gaps in trading. These are the charts that I post on the blog and are unavailable on StockCharts. It would be nice if StockCharts offered charts on the SP futures. I don’t think an upgrade in my membership would offer this feature.

    Bob

    Like

  6. focus12345 Says:

    We just posted at the same time LOL. More than fills the bill.

    Like

  7. focus12345 Says:

    Thank you Sir you are a Gentleman and a Scholar, closes thing to Terry we have. Putting them all on the same page is a great idea! Now I have to figure how to assimilate that 15 minute chart into my trading.

    Michael

    Like

  8. Bob Says:

    Hi Michael,

    Sorry about that. I remember that you rely on those charts. Check out charts #40.1, 40.2 and 40.3 and let me know if this fills the bill for you.

    Thanks for the input,
    Bob

    Like

  9. focus12345 Says:

    Hi Bob- I noticed you changed chart 30.4. Would it be possible to fit the Bollinger Bands in with the SPX 15 minute chart? The BB are very useful in interrupting extremes in which to trade. I have been using charts 30.4 and 40.2 to trade-with some success. Appreciate you work!

    Michael

    Like

  10. focus12345 Says:

    Hi Bob- I noticed you changed chart 30.4. Would it be possible to fit the Bollinger Bands in with the SPX 15 minute chart? The BB are very useful in interrupting extremes in which to trade. I have been using 30.4 and 40.2 to trade with some success. Appreciate you work!

    Michael
    Focus274@comcast.net

    Like

  11. winkinatu Says:

    Thanks for sharing Bob. Great stuff.

    Like

  12. Steven Flynn Says:

    Bob, thanks for your posts I have always got a lot from them. Please keep up your good work!

    Like


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